According to the sources, this decision has been taken by the center to encourage common people to do online transactions of small amounts. This news came to light after the cabinet meeting. But for now, common people will get this incentive in case of Rupe card transactions and low amount BHIM UPI transactions.
It is known that the Center has taken this decision to give more emphasis on digital banking and digital transactions. The Center does not want to burden banks and small card companies. That is why the experts are assuming that steps like incentives have been taken.
There is no clear information about how much or what incentives will be available initially. However, if there is a response in this regard, experts believe that the amount of incentive may increase. Many are hopeful that the use of RuPay card, debit card, UPI will also increase as a result of this decision of the Centre. Currently, many people still rely on cash for small transactions, the Cabinet decision suggests that they will also take the help of BHIM UPI or Rupay Debit Card for small transactions.
According to the report, there are currently 350 million or 35 crore online transactions in the country. The Center aims to double this number by 2030. This decision of the Center is expected to be very helpful in achieving that goal. Gamers are far ahead in online transactions in the country. Out of total 35 crore online transactions in India, 11 crore are gamers. In second place is the number of online payments in e-commerce.
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